Maersk Tankers Signs $300 Million Newbuild Contract with Samsung

Maersk Tankers, a unit of Copenhagen-based Maersk Group, said Friday it has signed a $300 million newbuilding contract with Samsung Heavy Industries Ningbo shipyard in China calling for nine medium-range tankers.

The company said the investment is “a clear indication of Maersk Tankers commitment to remain at the very top of the product tanker industry.”

The nine tankers will each have a capacity of 49,940 DWT and are due for delivery in 2017 and 2018.

The contract was signed at Maersk Tankers’ office in Copenhagen by Claus Grønborg, VP and Head of Business Development of Maersk Tankers and a representative from Samsung’s London Office.

Commenting on the order, Grønborg said he sees it as next step in the renewal of Maersk Tankers fleet. “The vessels will support our Taking Lead strategy in the Product segment and maintain our strong focus on cost effectiveness. The renewal of our fleet will help us to stay environmentally efficient, competitive and better equipped to meet our customers demands”, he says.

Maersk Tankers’ fleet as of September 2015 consists of 80 owned vessels and 20 chartered vessels. The company also has 17 newbuild medium-range vessels on order to be delivered before the end of 2018, consisting of 8 MR tankers from SungDong, South Korea to be delivered in 2015-2016 and the nine tankers announced Friday.